On 29 June 2023, the EU’s new Regulation (EU) 2023/1115 restricting sale in the EU of products that may cause deforestation or the degradation of forests (EUDR) entered into force.
The EUDR is expected to have global...more
10/22/2024
/ Corporate Governance ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
Legislative Agendas ,
New Regulations ,
Popular ,
Regulatory Agenda ,
Reporting Requirements ,
Small and Medium-Sized Enterprises (SMEs) ,
Sustainability
On 27 September 2024, the UK’s financial sanctions regulator, the Office of Financial Sanctions Implementation (OFSI), announced that it had issued its first monetary penalty for a breach of UK financial sanctions imposed...more
On 12 September 2024, the UK government published The Trade, Aircraft and Shipping Sanctions (Civil Enforcement) Regulations 2024 (Regulations) which, among other things, set out the powers of the new Office of Trade...more
9/25/2024
/ Economic Sanctions ,
Enforcement Actions ,
Financial Regulatory Reform ,
International Trade ,
New Legislation ,
New Regulations ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Sanctions ,
Trade Policy ,
UK
When the UK Modern Slavery Act 2015 (Act) came into force, it was considered a landmark legal development globally. The UK was one of the first jurisdictions to introduce a legal requirement concerning transparency in supply...more
9/19/2024
/ Anti-Corruption ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Human Rights ,
Human Trafficking ,
International Trade ,
Modern Slavery Act ,
Reporting Requirements ,
Supply Chain ,
Transparency ,
UK ,
White Collar Crimes
The UK government introduced a major overhaul of its framework for addressing financial crime — and brought into force numerous significant changes — when the Economic Crime and Corporate Transparency Act 2023 (the Act)...more
9/12/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Corporate Crimes ,
Corporate Entities ,
Corporate Governance ,
Corporate Transparency Act ,
Enforcement Actions ,
EU ,
Failure to Prevent ,
Financial Crimes ,
Fraud ,
Strict Liability ,
UK ,
White Collar Crimes
On 31 July 2024, the UK government broadened its Russian sanctions regime, giving the government express power to impose sanctions on persons who provide financial services, or make available funds, economic resources, goods...more
Russia’s invasion of Ukraine has resulted in unprecedent judicial scrutiny of the UK’s sanctions regulations. While the judgments delivered in many cases have provided companies with needed certainty on some topics, the...more
The Council of the European Union (Council) has updated its EU Best Practices for the Effective Implementation of Restrictive Measures. Published on 3 July 2024, the new version clarifies the threshold for the ownership test...more
On 24 June 2024, the European Union (EU) adopted its 14th sanctions package directed against Russia, imposing an asset freeze against an additional 116 individuals and entities and expanding sectoral sanctions targeting key...more
7/26/2024
/ Asset Freeze ,
Compensation ,
Compliance ,
Corporate Counsel ,
Economic Sanctions ,
Energy Sector ,
Enforcement ,
EU ,
Exit Transactions ,
Export Controls ,
Federal Bans ,
Financial Institutions ,
Intellectual Property Protection ,
Investment ,
Liability ,
Liquid Natural Gas ,
Risk Assessment ,
Russia ,
Trade Policy ,
Trade Secrets ,
Voluntary Disclosure
The UK Court of Appeal recently held that the National Crime Agency’s decision not to investigate whether cotton goods manufactured in China and imported to the UK were the product of forced labour was unlawful — a decision...more
7/8/2024
/ Appeals ,
China ,
Corporate Counsel ,
Financial Crimes ,
Financial Institutions ,
Imports ,
International Trade ,
Legislative Agendas ,
National Crime Agency (NCA) ,
Popular ,
Proceeds of Crime Act 2002 (POCA) ,
Supply Chain ,
UK